Multifamily Developers

MaineHousing offers several programs to encourage private development of affordable rental housing for families, seniors and persons will special needs. Low income housing tax credits, development loans, direct development subsidies, affordable housing tax increment financing, and options to restructure debt are available. Developers are required to ensure that housing developed with MaineHousing financing remains affordable.



Affordable Homeownership Program
In an ongoing effort to increase the supply of moderately-priced homes available to Mainers, the State of Maine is making $10 million, from the American Rescue Plan Act, available to facilitate the development of subdivisions with affordable single family homes.  The Affordable Homeownership Program is intended to help lower the costs to developers building single-family subdivisions by providing zero percent interest, forgivable loans.


Low Income Housing Tax Credit Program
The Low Income Housing Tax Credits are a federal resource that MaineHousing allocates in Maine. The credits are allocated to developers, who sell (syndicate) them to corporate investors. Money raised from the sale is used as equity in the developer’s rental housing project.


Rental Loan Program
The Rental Loan Program (RLP) provides long-term mortgage financing at attractive interest rates for development of affordable rental housing. The RLP may be used for acquisition, acquisition and rehab, or new construction of apartment buildings of five or more units; developers must reserve a portion of the units for lower income renters.


Supportive Housing Program
The Supportive Housing Program provides developers funding for the creation of housing for persons with specific housing needs at 30% of AMI or less.  Funding sources may include the National Housing Trust Fund as well as other federal and state resources.


Pre-Development Loan Program
The Pre-Development Loan Program provides interest-free capital to nonprofit entities developing affordable supportive housing projects and PHAs preserving certain federally-assisted housing projects to cover mortgageable pre-development costs.


Affordable Housing Tax Increment Financing Program
The Affordable Housing Tax Increment Financing (AHTIF) Program enables communities to dedicate the incremental tax revenues from new affordable housing development to help make the housing affordable or to pay for related costs.


Loan Modification Program
The Loan Modification Program offers owners of MaineHousing financed multi-family properties the opportunity to restructure MaineHousing debt by modifying interest rates, extending loan terms, or both. Loan modifications generally lower debt service payments in return for extended project affordability.


Subsequent Loan Program
The Subsequent Loan Program provides additional financing to owners of existing MaineHousing financed properties for such things as unanticipated operating shortfalls, capital improvements and creation of new units.


Contract Administration Loan Program
The MaineHousing Contract Administration Loan Program ensures the preservation of affordability by permitting eligible owners of Section 8 properties with a project-based Housing Assistance Payments contract.


Supportive Housing & Emergency Shelter Repair Program
After years of service, some properties face needs that require immediate attention, but lack adequate reserves to address the necessary repairs. As a result, MaineHousing offers the Supportive Housing & Emergency Shelter Repair Program which provides 5 year forgivable loans to address repairs that will ensure properties are able to continue to provide decent, safe, sanitary housing to Maine’s most vulnerable citizens.